Audited Standalone and Consolidated Financial Results for the Half and Financial year ended 31st March 2025
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Tarini International reported audited results for FY25. Standalone revenue from operations fell to Rs 200.80 lakhs from Rs 218.50 lakhs, while standalone profit after tax swung back to a positive Rs 29.36 lakhs compared with a loss of Rs 123.73 lakhs in FY24 (FY24 was hit by a Rs 155.66 lakh exceptional provision). Consolidated profit came in at Rs 163.35 lakhs (vs Rs 4.06 lakhs), largely helped by Rs 140.46 lakhs of share of profits from associates. Operating cash flow stayed negative on both bases — standalone at minus Rs 25.40 lakhs and consolidated at minus Rs 67.06 lakhs. The auditor issued a Qualified Opinion because the company has not made any provision for diminution on a Rs 121.59 lakh investment in loss-making subsidiaries; if adjusted, standalone profit would actually be a loss of Rs 72.93 lakhs. Several emphasis-of-matter notes also flag a Rs 505 lakh SEBI penalty under Supreme Court appeal, a farmhouse attachment by the Enforcement Directorate (stayed), and pending compounding applications.
The headline return to profit looks better than it is — strip out the prior-year exceptional item and add back the auditor's suggested provision, and standalone is still in the red. Negative operating cash flow, the qualified audit opinion, and a Rs 5+ crore SEBI penalty hanging in the Supreme Court are real risks for shareholders. The consolidated picture is propped up by associate companies rather than the parent's own operations.